FIBRAMQ announced the groundbreaking of a 2.5 million sq. ft. (~7% of GLA) development project in Ciudad Juarez, which will require an investment of ~US$185 million (US$74 per sq. ft.). The first phase (267,000 sq. ft.) is expected by 2H23.

• TRAXION obtained a syndicated loan to refinance and prepay its current credit line before end-March and improve its financial flexibility. The new loan is comprised of a P$5.5 billion 5-year unsecured loan and a P$500 million 3-year revolving line.

• Mexico’s Economic Activity Index (IGAE) rose for the second straight month in January 2023, this time by 0.6% MOM and 3.6% YOY (vs. +0.4% MOM and +3.1% YOY in December).

• The United States Senate asked the country’s Trade Representative Katherine Tai to file a formal dispute settlement request against Mexico’s genetically modified corn policy by April 7.

• Deputy Central Bank Governor Irene Espinosa said that core inflation is stabilizing; however, she added that the central bank’s Governing Board is concerned about the increase in service prices.